Wellnex says bottom line improving amid turnaround strategy

Wellnex Life Ltd on Tuesday said earnings have improved on a year-to-date basis as the company continues to execute its turnaround strategy.

Wellnex is a Melbourne-based consumer healthcare products company.

The company closed November with an earnings before interest, taxes, depreciation, and amortisation profit of A$100,000, around £49,477, Executive Chair Ash Vesali said in a letter to shareholders.

Ebitda improved by A$1.7 million year-on-year, which Wellnex said was supported by sales growth, an increase in group gross margin from 21% to 30.1%, and a further A$400,000 reduction in operating expenses.

Wellnex had said in September that it aimed to ‘return the business to profitability’, after reporting that pretax loss had widened 14% to A$15.6 million in the financial year to June 30 from A$13.7 million the year prior.

Vesali said initial results from the turnaround strategy have been ‘positive and encouraging’.

‘The board are encouraged by the strong execution and engagement across the business, with the team operating with increased clarity and urgency,’ Vesali added.

‘As these initiatives continue to embed, we see further opportunities to enhance margins and reduce costs through Q3 and Q4 of FY2026.’

Shares in Wellnex were flat at 7.00 pence each on Tuesday afternoon in London.

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